Intrametropolitan patterns of foreclosed homes: ZIP-code-level distributions of real-estate-owned (REO) properties during the U.S. mortgage crisis
Abstract: During the mortgage crisis, community developers, policymakers, and others have become increasingly concerned about the extent to which lender-owned homes, often called real-estate-owned or ?REO? properties, have accumulated in their neighborhoods and communities. REO properties are usually vacant and, especially when geographically concentrated, can have destabilizing impacts on neighborhoods and communities. However, due to data challenges, little systematic research has been done on the intrametropolitan distributions of such properties, especially across different metropolitan regions. This paper describes the accumulation of REO within different parts of metropolitan areas as of November 2008.
Provider: Federal Reserve Bank of Atlanta
Part of Series: FRB Atlanta Community and Economic Development Discussion Paper
Publication Date: 2009